Growth of the construction industry and longer telescopic booms that can operate at a considerably higher speed drive the growth of the global mobile crane market.
PORTLAND, Ore., July 14, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Mobile Crane Market by Boom Type (Lattice Boom, Telescopic Boom), by Carrrier Type (Wheel mounted, Track mounted), by Terrain Type (On road, Rough terrain, All terrain), by End User Industry (Construction, Manufacturing, Utilities): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global mobile crane industry generated $14.4 billion in 2021, and is anticipated to generate $24.5 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031.
Prime determinants of growth
Growth of the construction industry, advantage of easy transit from one job site to another, and longer telescopic booms that can operate at a considerably higher speed drive the growth of the global mobile crane market. Moreover, incorporation of hybrid power mode technology present new opportunities in the coming years.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/3294
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic has had a negative impact on the global mobile crane market, as it halted the production of many components of mobile cranes due to lockdown.
- However, introduction of various vaccines led to the full-fledged reopening of mobile cranes manufacturing companies at their full-scale capacities post-pandemic.
The all-terrainsegment to maintain its leadership status throughout the forecast period
Based on terrain type, the all-terrain segment held the highest market share in 2021, accounting for more than two-thirds of the global mobile crane market, and is estimated to maintain its leadership status throughout the forecast period, owing to usability of all-terrain cranes in varying conditions. However, the on road segment is projected to manifest the highest CAGR of 5.8% from 2022 to 2031, owing to increase in demand for utility maintenance services.
The construction segment to maintain its lead position during the forecast period
Based on end user, the construction segment accounted for the largest share in 2021, contributing to around three-fourths of the global mobile crane market, and is projected to maintain its lead position during the forecast period, owing to extensive use of cranes on construction sites. However, the utilities segment is expected to portray the largest CAGR of 5.9% from 2022 to 2031, owing to increase in utility maintenance activities.
Get detailed COVID-19 impact analysis on the Mobile Crane Market: https://www.alliedmarketresearch.com/request-for-customization/3294
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue 2021, accounting for nearly half of the global mobile crane market, owing to large number of construction projects. However, the LAMEA region is expected to witness the fastest CAGR of 6.5% from 2022 to 2031, owing to increase in number of construction projects.
Leading Market Players: -
- Altec, Inc.
- cargotec corporation
- Kobelco Construction Machinery Co., Ltd.
- Liebherr-International AG
- Manitowoc Company, Inc.
- SANY Heavy Industry Co. Ltd.
- Tadano Ltd.
- Terex Corporation
- Xuzhou Construction Machinery Group Co., Ltd.
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/3294
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial
Similar Reports We Have:
Cranes Market - Global cranes market size is expected to reach $41,186.63 million in 2027, from $33,616.53 million in 2019, growing at a CAGR of 4.8% from 2020 to 2027.
Truck-Mounted Crane Market - Global truck-mounted crane market size was valued at $10,815.8 million in 2020, and is projected to reach $19,409.7 million by 2030, registering a CAGR of 5.7% from 2021 to 2030.
Construction Equipment Market - Global construction equipment market size was valued at $201.9 billion in 2021, and is projected to reach $322.0 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
Optical Coating Equipment Market - Global Optical Coating Equipment Market is expected to reach $3,402 million in 2023, from $4,611 million in 2016, growing at a CAGR of 4.6% from 2017 to 2023.
Heavy Construction Equipment Rental Market - Global heavy construction equipment rental market size was valued at $76.4 billion in 2020, and is projected to reach $117.8 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
Pre-Book Now with 10% Discount:
Crane After Market: Global Opportunity Analysis and Industry Forecast, 2022-2029Offshore Crane Market: Global Opportunity Analysis and Industry Forecast, 2021-2030
Marine Deck Cranes Market: Global Opportunity Analysis and Industry Forecast, 2022-2029
Revolving Column Crane Market - Global Opportunity Analysis and Industry Forecast, 2021-2030
Rough Terrain Crane Market - Global Opportunity Analysis and Industry Forecast, 2021-2030
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
